Mexico plans to raise MXN3.76 trillion ($181 billion) in the local and international bond markets in 2022 to cover the financing needs for the federal government and state-owned lenders and companies, the finance ministry said in a press release on Monday.
The government intends to use MXN2.55 trillion in funds raised to pay off debt along with MXN197 billion to refinance debt held by state-owned oil company Pemex and MXN20.3 billion to finance infrastructure projects state-owned electric utility CFE, according to the finance ministry.
It also expects to use MXN708 billion to refinance debt from development banks Nafin, Banobras, Bancomext and SHF, the ministry added.
Next year’s estimated fundraising amounts are 2.1% less than the MXN4.02 trillion the government raised in 2021 “due to the result of the different refinancing strategies implemented in local and foreign markets,” the ministry said.
The government plans to issue sovereign bonds in US dollars and Japanese yen in international markets with the proceeds earmarked for sustainable development projects. It will also issue more environmental, social and governance (ESG) bonds in the local market, including Mbonos, Udibonos, Cetes and Bondes F, according to the finance ministry.